• About
  • Advertise
  • Privacy Policy
  • Contact
Thursday, January 22, 2026
  • Login
The Vaultz News
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2DNew
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships
No Result
View All Result
The Vaultz News
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2DNew
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships
No Result
View All Result
The Vaultz News
No Result
View All Result

Ghana loses over US$90 billion to corruption- Abdul Moomin Gbana

M.Cby M.C
December 2, 2020
Reading Time: 3 mins read
Workers at a mine

Workers at a mine

The General Secretary of the Ghana Mine Workers Union, Abdul Moomin Gbaana, on behalf of the Union has expressed great displeasure in the uninspiring attitude of governments’ towards the fight against corruption and corruption-related offences.

He said this during the second half of the National Executive Council meeting held today in Accra.

According to him, the menace of corruption goes as far back as the beginning of this 4th republic, and has further gone beyond taming in recent times.

RelatedPosts

GSS Reports Sharp Drop in Multidimensional Poverty

58% of Ghanaians See Country on Right Path — IEA

Ofosu-Adjare Secures $200 Million To Finish Factories

“In fact, given the spate of corruption and aborted corruption scandals since the 4th republic, and the notoriety it has gained in recent years and the debilitating impact of the Ghanaian society and by extension the continent of Africa, reinforces the urgent need to confront this deadly cancer head-on.”

Albud ghana news compressed
Abdul-Moomin Gbana, Gen. Secretary of the Ghana Mine Workers Union

He explained that this is not just a domestic evil, but that it is common-place in all of Africa. He further states that, African States lose about 25% of the GDP or an equivalent of US$148 billion to corruption every year.

“A billion dollars is a lot of money, so if you have close to about a US$150 billion lost to corruption on the African continent every year, it’s a very gory situation,” he reiterated.

For Ghana, more than US$3 billion is lost to corruption every year based on IMANI Africa’s findings, he noted.

Considering IMANI’s findings thereof, he estimates that Ghana has lost in cumulative terms a whooping amount of over US$ 90 billion to corruption since the 4th republic, with the governance of the State having alternated between the two major political parties- NDC and NPP.

ADVERTISEMENT

“Interestingly, both parties are up again for elections in the next couple of days and it is obvious from the trends so far, that one of the two will emerge winner in the general election come December 7, 2020, unless a miracle happens.”

“This means that the lesser of the two evils is likely to win and therefore the vicious cycle of corruption continues unabated,” he added.

The trajectory of corruption is nothing to be proud of as a country, as it has been galloping year-on-year. According to Transparency International, Ghana’s Corruption Perception Index (CPI) since 1998 averages approximately 39.0% and with an increasing trend.

CPI
Source: TradingEconomics.com | Transparency International

READ ALSO: Longer Periods Of Tackling Corruption Due to Lack Of Comprehensive Data- Dennis Asare

Tags: africaCorruptionCPIghanaMines
Share17Tweet11Share3SendSend
Please login to join discussion
Previous Post

EU Chief Negotiator unsure of Brexit deal

Next Post

Joint Africa Gender Index report launched

Related Posts

GSS Reports Sharp Drop in Multidimensional Poverty
Economy

GSS Reports Sharp Drop in Multidimensional Poverty

January 21, 2026
Whisk daf6f77b5eb2a509b9a4f22d616dbbc6dr
General News

58% of Ghanaians See Country on Right Path — IEA

January 21, 2026
Hon. Elizabeth Ofosu-Adjare, Minister for Trade, Agribusiness and Industry
Vaultz Business

Ofosu-Adjare Secures $200 Million To Finish Factories

January 21, 2026
Frontier Market Struggles Threaten Ghana’s Economic Transformation Agenda
Economy

Frontier Market Struggles Threaten Ghana’s Economic Transformation Agenda

January 21, 2026
Mr. Benjamin Nsiah, the Executive Director of the Centre for Environmental Management and Sustainable Energy
Extractives/Energy

Energy Analyst Challenges NPA’s Fuel Price Floor Rationale

January 21, 2026
Chief Executive Officer of Star Assurance Limited, and President of Ghana Insurers Association, Boatemaa Baffour-Awuah
Sub Top Stories2

New GIA President Sets Out to Rebuild Insurance as National Economic Pillar

January 21, 2026
Anthony Morrison, Chamber of Agribusiness Ghana CEO
Agribusiness

Decentralize Agric Policies For Local Growth Now – CAG

by Silas Kafui AssemJanuary 22, 2026
Extractives/Energy

CBOD Demands Probe Into Fuel Sales Below Price Floor

by Prince AgyapongJanuary 22, 2026
Trump Rebuffs Putin’s Offer To Aid Israel-Iran Conflict Mediation
USA

Trump Makes U-Turn On Tariff Threats Over Greenland

by Comfort AmpomaaJanuary 22, 2026
Extractives/Energy

Newmont Rebukes Claims of Polluting Tano River

by Bless Banir YarayeJanuary 22, 2026
constitutional review committee
General News

Government Begins Process to Implement Constitutional Review Proposals

by Evans Junior OwuJanuary 22, 2026
Banks Power Fresh GSE Upswing
Securities/Markets

Banks Power Fresh GSE Upswing

by M.CJanuary 22, 2026
Anthony Morrison, Chamber of Agribusiness Ghana CEO
Trump Rebuffs Putin’s Offer To Aid Israel-Iran Conflict Mediation
constitutional review committee
Banks Power Fresh GSE Upswing

Recent News

Anthony Morrison, Chamber of Agribusiness Ghana CEO

Decentralize Agric Policies For Local Growth Now – CAG

January 22, 2026
672b7bca7631ecb609465f59 JustPark Fuel Pricing Main 1536x866 1

CBOD Demands Probe Into Fuel Sales Below Price Floor

January 22, 2026
Trump Rebuffs Putin’s Offer To Aid Israel-Iran Conflict Mediation

Trump Makes U-Turn On Tariff Threats Over Greenland

January 22, 2026
Newmont team

Newmont Rebukes Claims of Polluting Tano River

January 22, 2026
constitutional review committee

Government Begins Process to Implement Constitutional Review Proposals

January 22, 2026
The Vaultz News

Copyright © 2025 The Vaultz News. All rights reserved.

Navigate Site

  • About
  • Advertise
  • Privacy Policy
  • Contact

Follow Us

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2D
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships

Copyright © 2025 The Vaultz News. All rights reserved.

Discover the Details behind the story

Get an in-depth analysis of the news from our top editors

Enter your email address